COMMONWEALTH CREDIT UNION: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- COMMONWEALTH CREDIT UNION (EIN 61-0671028)
- Tax period
- 2011-01-01 to 2011-12-31
- Filed
- 2012-05-11
- IRS object ID
- 201231329349303188
- Schema version
- 2011v1.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2012-05-11T17:45:56-00:00 | Timestamp |
| Tax Period End Date | 2011-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ORTH CHAKLER MURNANE AND CO CPAs | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 12060 SW 129 COURT SUITE 201 | AddressLine1 |
| City | MIAMI | City |
| State | FL | State |
| ZIP Code | 33186 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 610671028 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | COMMONWEALTH CREDIT UNION INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | COMM | NameControl |
| Phone | 5025644475 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 978 | AddressLine1 |
| City | FRANKFORT | City |
| State | KY | State |
| ZIP Code | 406020978 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | KAREN HARBIN | Name |
| Title | PRESIDENTCEO | Title |
| Phone | 5025648146 | Phone |
| Date Signed | 2012-05-11 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | DOUGLAS ORTH | Name |
| Phone | 3052328272 | Phone |
| Date Prepared | 2012-05-11 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | GARY WALLACE | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 978 | AddressLine1 |
| City | FRANKFORT | City |
| State | KY | State |
| ZIP Code | 406020978 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 50200676 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.CCUKY.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1951 | YearFormation |
| State Legal Domicile | KY | StateLegalDomicile |
| Activity Or Mission Description | LEADING IN QUALITY SERVICE THROUGH DYNAMIC FINANCIAL SERVICES. THE CREDIT UNION PROVIDES ITS MEMBERS WITH A SAFE PLACE TO SAVE AND A SOURCE OF CREDIT IN A NOT-FOR-PROFIT CONTEXT. WE STRIVE TO IMPROVE THE LIVES OF THOSE WE SERVE BY HELPING THEM ACHIEVE THEIR DREAMS THROUGH FINANCIAL HEALTH AND SUCCESS. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 13 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 12 | NbrIndependentVotingMembers |
| Total Nbr Employees | 308 | TotalNbrEmployees |
| Total Nbr Volunteers | 17 | TotalNbrVolunteers |
| Total Gross UBI | 1989318 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -2745252 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 42899584 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 44021426 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 6677198 | InvestmentIncomePriorYear |
| Investment Income Current Year | 3768871 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 1806928 | OtherRevenuePriorYear |
| Other Revenue Current Year | 1989318 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 51383710 | TotalRevenuePriorYear |
| Total Revenue Current Year | 49779615 | TotalRevenueCurrentYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 18503712 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 18592560 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 25694467 | OtherExpensePriorYear |
| Other Expenses Current Year | 21890438 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 44198179 | TotalExpensesPriorYear |
| Total Expenses Current Year | 40482998 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 7185531 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 9296617 | RevenuesLessExpensesCY |
| Total Assets BOY | 880216977 | TotalAssetsBOY |
| Total Assets EOY | 897005001 | TotalAssetsEOY |
| Total Liabilities BOY | 726755833 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 734494843 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 153461144 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 162510158 | NetAssetsOrFundBalancesEOY |
| Mission Description | THE CREDIT UNIONS MISSION IS TO LEAD IN QUALITY SERVICE THROUGH DYNAMIC FINANCIAL SOLUTIONS IN A MANNER CONSISTENT WITH ITS NOT-FOR-PROFIT STATUS. WE STRIVE TO IMPROVE THE LIVES OF THOSE WE SERVE BY HELPING THEM ACHIEVE THEIR DREAMS THROUGH FINANCIAL HEALTH AND SUCCESS. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Description | SHARES THE CREDIT UNION HAS 159,049 SHARE ACCOUNTS CONSISTING OF OVER 725,600,000. COMMONWEALTH CREDIT UNION HAS A MYRIAD OF SAVINGS OPTIONS FROM WHICH MEMBERS CAN SELECT TO GROW THEIR FUTURES. | Description |
| Described In501 C3 | false | DescribedIn501C3 |
| Schedule B Required | false | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | false | CreditCounseling |
| Term Or Permanent Endowments | false | TermOrPermanentEndowments |
| Report Land Bldg Equip | true | ReportLandBldgEquip |
| Report Invest Oth Securities | false | ReportInvestOthSecurities |
| Report Prog Rel Invest | false | ReportProgRelInvest |
| Report Other Assets | false | ReportOtherAssets |
| Report Other Liabilities | true | ReportOtherLiabilities |
| Report Fin48 Footnote | true | ReportFin48Footnote |
| Independent Audit Financial Stmt | true | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | false | ConsolidatedAuditFinancialStmt |
| School | false | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | false | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | false | FundraisingActivities |
| Gaming | false | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | false | GrantsToOrganizations |
| Grants To Individuals | false | GrantsToIndividuals |
| Schedule J Required | true | ScheduleJRequired |
| Tax Exempt Bonds | false | TaxExemptBonds |
| Loan To Officer Or DQP | false | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | false | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | false | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | false | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | false | DisregardedEntity |
| Related Entity | false | RelatedEntity |
| Related Org Controlled Entity | false | RelatedOrgControlledEntity |
| Transaction Related Entity | false | TransactionRelatedEntity |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 27903 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 308 | NumberOfEmployees |
| Employment Tax Returns Filed | true | EmploymentTaxReturnsFiled |
| Unrelated Business Income | true | UnrelatedBusinessIncome |
| Form990-T Filed | true | Form990-TFiled |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 13 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 12 | NumberIndependentVotingMembers |
| Family Or Business Relationship | false | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | false | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | true | MembersOrStockholders |
| Election Of Board Members | true | ElectionOfBoardMembers |
| Decisions Subject To Approval | false | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | false | LocalChapters |
| Form990 Provided To Governing Body | true | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | true | CompensationProcessCEO |
| Compensation Process Other | true | CompensationProcessOther |
| Investment In Joint Venture | false | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | KAREN HARBIN CEO | NamePerson |
| Telephone Number | 5025644775 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 417 HIGH STREET | AddressLine1 |
| City | FRANKFORT | City |
| State | KY | State |
| ZIP Code | 406020978 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (20 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Key EmployeeKeyEmployee | FormerFormer |
|---|---|---|---|---|---|---|---|---|
| JOHN SCOTT | ||||||||
| BOARD OF DIRECTORS | 001.00 | X | 0 | 0 | 0 | |||
| BOB BENDER | ||||||||
| BOARD OF DIRECTORS | 001.00 | X | 0 | 0 | 0 | |||
| JIM CHADWELL | ||||||||
| BOARD OF DIRECTORS | 001.00 | X | 449 | 0 | 0 | |||
| RANDY OVERSTREET | ||||||||
| BOARD OF DIRECTORS | 001.00 | X | 419 | 0 | 0 | |||
| RANDY FAWNS | ||||||||
| BOARD OF DIRECTORS | 001.00 | X | 0 | 0 | 0 | |||
| REGINA GRUBBS | ||||||||
| BOARD OF DIRECTORS | 001.00 | X | 449 | 0 | 0 | |||
| MARY FOSTER | ||||||||
| BOARD OF DIRECTORS | 001.00 | X | 0 | 0 | 0 | |||
| KAY JONES | ||||||||
| BOARD OF DIRECTORS | 001.00 | X | 0 | 0 | 0 | |||
| HARRY SUTER | ||||||||
| BOARD OF DIRECTORS | 001.00 | X | 0 | 0 | 0 | |||
| ALEX ROSE | ||||||||
| BOARD OF DIRECTORS | 001.00 | X | 0 | 0 | 0 | |||
| BILL LEACH | ||||||||
| BOARD OF DIRECTORS | 001.00 | X | 0 | 0 | 0 | |||
| ROBIN BREWER | ||||||||
| BOARD OF DIRECTORS | 001.00 | X | 0 | 0 | 0 | |||
| GARY WALLACE | ||||||||
| CEO/BOARD MEMBER | 040.00 | X | 332787 | 0 | 69163 | X | ||
| KAREN HARBIN | ||||||||
| EXECUTIVE VICE PRESIDENT | 040.00 | 242122 | 0 | 51800 | X | |||
| DAVID YOUNG | ||||||||
| VICE PRESIDENT OPERATIONS | 040.00 | 169791 | 0 | 37796 | X | |||
| JOHN COMBS | ||||||||
| GENERAL COUNSEL | 040.00 | 175300 | 0 | 38837 | X | |||
| RICHARD WARREN | ||||||||
| VICE PRESIDENT LENDING | 040.00 | 92903 | 0 | 21461 | X | |||
| LOUISE BRYANT-RITCHIE | ||||||||
| VICE PRESIDENT FINANCE | 040.00 | 142982 | 0 | 33268 | X | |||
| ALAN DAVIS | ||||||||
| ASST. VICE PRESIDENT LENDING | 040.00 | 144018 | 0 | 33379 | X | |||
| ANNE BURGESS | ||||||||
| CHIEF INFORMATION OFFICER | 040.00 | 145313 | 0 | 33575 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 1446533 | TotalReportableCompFromOrg |
| Total Other Compensation | 319279 | TotalOtherCompensation |
| Number Individuals GT100 K | 13 | NumberIndividualsGT100K |
| Formers Listed | true | FormersListed |
| Total Comp GT150 K | true | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| KENTUCKY RETIREMENT SYSTEM | |||||
| 1260 LOUISVILLE RD | FRANKFORT | KY | 40601 | RETIREMENT CONTRIBUTIONS FOR EMPLOYEES | 3154756 |
| NATIONAL CREDIT UNION ADMINISTRATIO | |||||
| PO BOX 979069 | ST LOUIS | MO | 631979000 | NCUSIF CAPITALIZATION DEPOSIT ASSESSMENT | 1872342 |
| HUMANA INC | |||||
| 12291 COLLECTIONS CENTER DR | CHICAGO | IL | 60693 | HEALTH INSURANCE PREMIUMS FOR EMPLOYEES | 1281858 |
| LASERTEC INC | |||||
| 33472 STERLING PONDS BLVD | STERLING HEOGHTS | MI | 483125808 | STATEMENT POSTAGE REFILL PROCESSING | 582520 |
| JACK HENRY ASSOCIATES INC | |||||
| PO BOX 503328 | ST LOUIS | MO | 631503328 | SYMITAR MAINTENANCE EXPENSES | 538585 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 20 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (4 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| INTEREST ON LOANS | 522100 | 34112365 | 34112365 |
| FEE INCOME | 522100 | 5228901 | 5228901 |
| INTERCHANGE INCOME | 522100 | 4405676 | 4405676 |
| OTHER INCOME | 522100 | 274484 | 274484 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 44021426 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 3746197 | TotalRevenueColumn |
| Exclusion | $3,746,197 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 443735 | Other |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 421061 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 22674 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 22674 | TotalRevenueColumn |
Other Revenue Misc OtherRevenueMisc (2 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|
| INS.COMM.MEMBER SERVICES | 524298 | 1925689 | 1925689 |
| INCOME ON NON-MEMBER WITHDRAWALS | 900099 | 63629 | 63629 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 1989318 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 49779615 | TotalRevenueColumn |
| Related Or Exempt Function Income | 44021426 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 1989318 | UnrelatedBusinessRevenue |
| Exclusion | $3,746,197 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Foreign Grants ForeignGrants
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1765812 | Total |
| Program Services | 1765812 | ProgramServices |
Comp Disqual Persons CompDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 11905692 | Total |
| Program Services | 11905692 | ProgramServices |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2287072 | Total |
| Program Services | 2287072 | ProgramServices |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1753084 | Total |
| Program Services | 1753084 | ProgramServices |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 880900 | Total |
| Program Services | 880900 | ProgramServices |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 69078 | Total |
| Program Services | 69078 | ProgramServices |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 53082 | Total |
| Program Services | 53082 | ProgramServices |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fees For Services Prof Fundraising | FeesForServicesProfFundraising |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 182100 | Total |
| Program Services | 182100 | ProgramServices |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 548063 | Total |
| Program Services | 548063 | ProgramServices |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1037064 | Total |
| Program Services | 1037064 | ProgramServices |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5435 | Total |
| Program Services | 5435 | ProgramServices |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1847107 | Total |
| Program Services | 1847107 | ProgramServices |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 55261 | Total |
| Program Services | 55261 | ProgramServices |
Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 48736 | Total |
| Program Services | 48736 | ProgramServices |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 6026161 | Total |
| Program Services | 6026161 | ProgramServices |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1738136 | Total |
| Program Services | 1738136 | ProgramServices |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 110718 | Total |
| Program Services | 110718 | ProgramServices |
Other Expenses OtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | SEE ATTACHED STATEMENT | Description |
| Total | 10169497 | Total |
| Program Services | 10169497 | ProgramServices |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 40482998 | Total |
| Program Services | 40482998 | ProgramServices |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5450762 | BOY |
| EOY | 5394772 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 43920326 | BOY |
| EOY | 42509468 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5127993 | BOY |
| EOY | 7194832 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 520476803 | BOY |
| EOY | 538537221 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 900894 | BOY |
| EOY | 1274556 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 38445094 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 19396196 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 20331040 | BOY |
| EOY | 19048898 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 260078852 | BOY |
| EOY | 272265514 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14784919 | BOY |
| EOY | 2667905 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 9145388 | BOY |
| EOY | 8111835 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 880216977 | BOY |
| EOY | 897005001 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 8243986 | BOY |
| EOY | 8869220 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 718511847 | BOY |
| EOY | 725625623 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 726755833 | BOY |
| EOY | 734494843 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 153461144 | BOY |
| EOY | 162510158 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 153461144 | BOY |
| EOY | 162510158 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 880216977 | BOY |
| EOY | 897005001 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 9296617 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -247603 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
| Audit Committee | true | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | false | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Included On FS | false | IncludedOnFS |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 3468245 | OtherCostOrOtherBasis |
| Book Value | 3468245 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 23738378 | OtherCostOrOtherBasis |
| Depreciation | 10210226 | Depreciation |
| Book Value | 13563391 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 11238471 | OtherCostOrOtherBasis |
| Depreciation | 7771705 | Depreciation |
| Book Value | 2017262 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 19048898 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities (5 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| SHARE | $302,269,785 |
| INDIVIDUAL RETIREMENT ACCOUNTS | $22,140,503 |
| MONEY MARKET ACCOUNTS | $98,468,577 |
| SHARE DRAFT ACCOUNTS | $83,490,031 |
| CERTIFICATES OF DEPOSIT AND IRA CERTIFICATES | $219,256,727 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 725625623 | TotalOfAmounts |
| Total Revenue | 49779615 | TotalRevenue |
| Total Expenses | 40482998 | TotalExpenses |
| Excess Or Deficit For Year | 9296617 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | -247603 | NetUnrealizedGLOnInvestments |
| Total Adjustments | -247603 | TotalAdjustments |
| Excess Or Deficit Per FS | 9049014 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 49779615 | TotRevenueEtcAuditedFinclStmt |
| Revenue Subtotal | 49779615 | RevenueSubtotal |
| Total Revenue Per Form990 | 49779615 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 40482998 | TotExpensesEtcAuditedFinclStmt |
| Expenses Subtotal | 40482998 | ExpensesSubtotal |
| Total Expenses Per Form990 | 40482998 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| X | 2 | FASB ASC 740-10-25 clarifies accounting for uncertainty in income taxes reported in the financial statements. The interpretation provides criteria for assessment of individual tax positions and a process for recognition and measurement of uncertain tax positions. Tax positions are evaluated on whether they meet the more likely than not standard for sustainability upon examination by tax authorities. As a result of adopting ASC 740-10-25, the Credit Union has assessed its activities and any potential federal or state income tax liability and determined that the Credit Union has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. Additionally, no interest and penalties have been recorded in the accompanying financial statements related to uncertain tax positions. Currently, the 2010, 2009, and 2008 federal income tax returns are open for examination by the IRS. The filing years open |
| X | 2 continued... | for examination by the state, if applicable, may be equal to, greater than or less than the years open for examination by the IRS. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | X | TravelForCompanions |
| Written Policy Re T And E Expenses | true | WrittenPolicyReTAndEExpenses |
| Substantiation Required | false | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | false | SeverancePayment |
| Supplemental Nonqual Retire Plan | false | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | false | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (8 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Bonus Filing OrgBonusFilingOrg | Deferred Comp Filing OrgDeferredCompFilingOrg | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Total Compensation Filing OrgTotalCompensationFilingOrg | Other Compensation Filing OrgOtherCompensationFilingOrg |
|---|---|---|---|---|---|
| GARY WALLACE | |||||
| 307000 | 25787 | 61334 | 7829 | 401950 | |
| KAREN HARBIN | |||||
| 222141 | 19449 | 44365 | 7435 | 293922 | 532 |
| DAVID YOUNG | |||||
| 157979 | 11812 | 31151 | 6645 | 207587 | |
| JOHN COMBS | |||||
| 163244 | 12056 | 32169 | 6668 | 214137 | |
| RICHARD WARREN | |||||
| 82110 | 10793 | 14669 | 6792 | 114364 | |
| LOUISE BRYANT-RITCHIE | |||||
| 130374 | 12608 | 26259 | 7009 | 176250 | |
| ALAN DAVIS | |||||
| 131006 | 13012 | 26366 | 7013 | 177397 | |
| ANNE BURGESS | |||||
| 134806 | 10507 | 26796 | 6779 | 178888 | |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | I | Identifier |
| Return Reference | 1A | ReturnReference |
| Explanation | A PER DIEM IS PAID FOR MEALS FOR BOARD MEMEBERS TRAVEL COMPANIONS. | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (8 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Form 990 Part VI | 6 | ANY INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS A MEMBER. IN TOTAL, THERE ARE 83,315 MEMBERS OF THE CREDIT UNION. ELIGIBILITY TO JOIN COMMONWEALTH CREDIT UNION IS BASED ON PARTICIPATION IN THE KENTUCKY RETIREMENT SYSTEM KENTUCKY EMPLOYERS RETIREMENT, KENTUCKY TEACHERS RETIREMENT, COUNTY EMPLOYEES RETIREMENT, AND KENTUCKY STATE POLICE SYSTEM. RELATIVES AND FAMILY MEMBERS PARTICIPATING IN KRS ARE ALSO ELIGIBLE FOR MEMBERSHIP IN THE CREDIT UNION. |
| Form 990 Part VI | 7A | COMMONWEALTH CREDIT UNIONS BOARD OF DIRECTORS ARE ELECTED BY THE MEMBERSHIP AT AN ANNUAL MEETING HELD IN JANUARY OF EACH YEAR. EACH PRIMARY MEMBER IS ENTITLED TO ONE VOTE TO ELECT THE BOARD. |
| Form 990 Part VI | 11 A AND B | COMMONWEALTH CREDIT UNION BOARD OF DIRECTORS WERE PROVIDED WITH A COPY OF THE 2011 FORM 990 PRIOR TO THE BOARD MEETING. THEY WERE ASKED TO REVIEW THE FORM AND CONTACT THE CEO WITH QUESTIONS. AT THE BOARD MEETING, THE CEO PROVIDED EXPLANATIONS AND ANSWERED ANY QUESTIONS FROM THE BOARD DURING THE REVIEWOF THE FORM 990. |
| Form 990 Part VI | 12C | A STATEMENT OF THE CREDIT UNIONS COMPLIANCE WITH KENTUCKY REVISED STATUTE 290.195 IS INCLUDED IN THE ASSOCIATE HANDBOOK WHICH EACH CREDIT UNION EMPLOYEE SIGNS AS HAVING READ AND AGREES TO ABIDE BY. KRS 290.195 PROVIDES THAT NO DIRECTOR, OFFICER OR ASSOCIATE PARTICIPATE IN INTERESTS IN A CORPORATION, PARTNERSHIP, ASSOCIATION THAT HAS AN INTERESTS THAT COULD GIVE RISE TO CONFLICT. ALSO, AT THE BEGINNING OF EACH YEAR, EVERY EMPLOYEE MUST SIGN A CONFLICT OF INTEREST POLICY. THE HUMAN RESOURCES DEPARTMENT ENSURES THAT EACH EMPLOYEE SIGNS AND AGREES TO THIS POLICY AND MONITORS THAT IT IS DONE. |
| Form 990 Part VI | 15 | INTEGRITY HR IS USED AS AN OUTSIDE CONSULTANT TO PROVIDE AN INDEPENDENT REVIEW OF THE POSITIONS, SALARIES, LEVELS AND OVERALL COMPENSATION. INTEGRITY HR USES SERVERAL SOURCES OF COMPARABLE DATA INCLUDING CUNA SALARY SURVEYS AS WELL AS LOCAL, REGIONAL, AND NATIONAL SALARY DATA. |
| Form 990 Part VI | 19 | THE FINANCIALS ARE MADE AVAILABLE AND DISTRIBUTED TO THE PUBLIC EVERY YEAR AT THE ANNUAL MEETING IN PAMPHLET FORM. GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY AND FINANCIALS WOULD ALSO BE DISTRIBUTED ON A REQUEST BASIS TO THE PUBLIC. |
| Form 990 Part XI | 5 | CHANGE IN UNREALIZED LOSS 247,603 |
| Form 990 Part VI Section A Line 6 ANY INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS A MEMBER. IN TOTAL, THERE ARE 83,315 MEMBERS OF THE CREDIT UNION. ELIGIBILITY TO JOIN COMMONWEALTH CREDIT UNION IS BASED ON PARTICIPATION IN THE KENTUCKY RETIREMENT SYSTEM KENTUCKY EMPLOYERS RETIREMENT, KENTUCKY TEACHERS RETIREMENT, COUNTY EMPLOYEES RETIREMENT, AND KENTUCKY STATE POLICE SYSTEM. RELATIVES AND FAMILY MEMBERS PARTICIPATING IN KRS ARE ALSO ELIGIBLE FOR MEMBERSHIP IN THE CREDIT UNION. Form 990 Part VI Section A Line 7A COMMONWEALTH CREDIT UNIONS BOARD OF DIRECTORS ARE ELECTED BY THE MEMBERSHIP AT AN ANNUAL MEETING HELD IN JANUARY OF EACH YEAR. EACH PRIMARY MEMBER IS ENTITLED TO ONE VOTE TO ELECT THE BOARD. Form 990 Part VI Section B Line 11 A AND B COMMONWEALTH CREDIT UNION BOARD OF DIRECTORS WERE PROVIDED WITH A COPY OF THE 2011 FORM 990 PRIOR TO THE BOARD MEETING. THEY WERE ASKED TO REVIEW THE FORM AND CONTACT THE CEO WITH QUESTIONS. AT THE BOARD MEETING, THE CEO PROVIDED EXPLANATIONS AND ANSWERED ANY QUESTIONS FROM THE BOARD DURING THE REVIEWOF THE FORM 990. Form 990 Part VI Section B Line 12C A STATEMENT OF THE CREDIT UNIONS COMPLIANCE WITH KENTUCKY REVISED STATUTE 290.195 IS INCLUDED IN THE ASSOCIATE HANDBOOK WHICH EACH CREDIT UNION EMPLOYEE SIGNS AS HAVING READ AND AGREES TO ABIDE BY. KRS 290.195 PROVIDES THAT NO DIRECTOR, OFFICER OR ASSOCIATE PARTICIPATE IN INTERESTS IN A CORPORATION, PARTNERSHIP, ASSOCIATION THAT HAS AN INTERESTS THAT COULD GIVE RISE TO CONFLICT. ALSO, AT THE BEGINNING OF EACH YEAR, EVERY EMPLOYEE MUST SIGN A CONFLICT OF INTEREST POLICY. THE HUMAN RESOURCES DEPARTMENT ENSURES THAT EACH EMPLOYEE SIGNS AND AGREES TO THIS POLICY AND MONITORS THAT IT IS DONE. Form 990 Part VI Section B Line 15 INTEGRITY HR IS USED AS AN OUTSIDE CONSULTANT TO PROVIDE AN INDEPENDENT REVIEW OF THE POSITIONS, SALARIES, LEVELS AND OVERALL COMPENSATION. INTEGRITY HR USES SERVERAL SOURCES OF COMPARABLE DATA INCLUDING CUNA SALARY SURVEYS AS WELL AS LOCAL, REGIONAL, AND NATIONAL SALARY DATA. Form 990 Part VI Section C Line 19 THE FINANCIALS ARE MADE AVAILABLE AND DISTRIBUTED TO THE PUBLIC EVERY YEAR AT THE ANNUAL MEETING IN PAMPHLET FORM. GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY AND FINANCIALS WOULD ALSO BE DISTRIBUTED ON A REQUEST BASIS TO THE PUBLIC. Form 990 Part XI Line 5 CHANGE IN UNREALIZED LOSS 247,603 |